Waiver clause. This clause appears as part of the “Duty of Assured” in the Institute Time Clauses (Hulls) 1983. The waiver section states:
Warranties. Under the Marine Insurance Act 1906, section 33(1) states that a warranty means a promissory warranty, i.e., a warranty by which the assured undertakes that some particular thing shall or shall not be done or that some condition shall be fulfilled or whereby he affirms or negatives the existence of a particular state of facts.